Principal Financial Group Inc. Invests $557,000 in CareDx, Inc (NASDAQ:CDNA)

Principal Financial Group Inc. bought a new position in shares of CareDx, Inc (NASDAQ:CDNA) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,833 shares of the company’s stock, valued at approximately $557,000.

Several other hedge funds have also recently bought and sold shares of CDNA. Lord Abbett & CO. LLC acquired a new position in CareDx during the 3rd quarter worth approximately $10,873,000. Franklin Resources Inc. raised its stake in CareDx by 34.4% during the third quarter. Franklin Resources Inc. now owns 59,474 shares of the company’s stock valued at $1,862,000 after buying an additional 15,238 shares in the last quarter. Virtue Capital Management LLC bought a new stake in CareDx during the third quarter valued at $755,000. Geode Capital Management LLC boosted its stake in CareDx by 2.7% in the third quarter. Geode Capital Management LLC now owns 1,227,724 shares of the company’s stock valued at $38,343,000 after acquiring an additional 32,141 shares during the period. Finally, Barclays PLC increased its position in CareDx by 123.8% in the third quarter. Barclays PLC now owns 98,505 shares of the company’s stock worth $3,075,000 after buying an additional 54,482 shares during the period.

CareDx Stock Up 3.8 %

CDNA opened at $22.33 on Monday. The firm has a market capitalization of $1.20 billion, a P/E ratio of -8.27 and a beta of 1.86. The stock’s 50 day moving average price is $22.87 and its two-hundred day moving average price is $23.92. CareDx, Inc has a 12-month low of $7.42 and a 12-month high of $34.84.

CareDx (NASDAQ:CDNA) last announced its quarterly earnings data on Monday, November 4th. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.11. The company had revenue of $82.88 million for the quarter, compared to analyst estimates of $80.04 million. CareDx had a negative return on equity of 53.70% and a negative net margin of 45.90%. CareDx’s revenue for the quarter was up 23.4% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.43) EPS. As a group, analysts anticipate that CareDx, Inc will post -0.7 earnings per share for the current year.

Insider Activity at CareDx

In related news, Director Peter Maag sold 5,000 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $25.00, for a total transaction of $125,000.00. Following the completion of the sale, the director now owns 330,024 shares in the company, valued at $8,250,600. This trade represents a 1.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 4.90% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

CDNA has been the subject of several recent analyst reports. BTIG Research decreased their target price on shares of CareDx from $40.00 to $35.00 and set a “buy” rating for the company in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of CareDx from $26.00 to $35.00 and gave the company a “buy” rating in a research note on Wednesday, October 16th. HC Wainwright reiterated a “neutral” rating on shares of CareDx in a report on Tuesday, October 22nd. Finally, StockNews.com upgraded shares of CareDx from a “hold” rating to a “buy” rating in a report on Thursday, October 17th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.60.

CareDx Company Profile

CareDx, Inc engages in the discovery, development, and commercialization of diagnostic solutions for transplant patients and caregivers in the United States and internationally. It also provides AlloSure Kidney, a donor-derived cell-free DNA (dd-cfDNA) solution for kidney transplant patients; AlloMap Heart, a gene expression solution for heart transplant patients; AlloSure Heart, a dd-cfDNA solution for heart transplant patients; and AlloSure Lung, a dd-cfDNA solution for lung transplant patients.